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Depends on what you're worried about risking. Pictures and audio files can easily be extracted out of it, for example. And it could be published somewhere that you haven't already submitted it to under his name.

That's a different story, yes. There is a growing trend on GP of app copying. Lots of guys, including me, are getting ripped 1:1. They must be doing it by using some kind of software. They even use exact same descriptions, screenshots, everything.